For the past two school years I lived in a small town (30,000 people) in AndalucÃ­a, and Iâm currently living in a medium-sized town (50,000 people) in Extremadura. Though technically Extremadura isnât southern Spain, itâs only about an hour north of AndalucÃ­a and the cost of living is very similar. The average monthly cost of living in a piso is 250-300â¬. Thatâs the cost of the whole apartmentâ¦ not just for a room in a shared apartment.
What is an 'Equated Monthly Installment - EMI'. An equated monthly installment (EMI) is a fixed payment amount made by a borrower to a lender at a specified date each calendar month. Equated monthly installments are used to pay off both interest and principal each month so that over a specified number of years, the loan is paid off in full.
From Wikipedia, the free encyclopedia. An installment loan is a loan that is repaid over time with a set number of scheduled payments; normally at least two payments are made towards the loan. The term of loan may be as little as a few months and as long as 30 years.A mortgage, for example, is a type of installment loan.The term is most strongly associated with traditional consumer loans, originated and serviced locally, and repaid over time by regular payments of principal and interest.he term of loan may be as little as a few months and as long as 30 years. A mortgage, for example, is a type of installment loan. The term is most strongly associated with traditional consumer loans, originated and serviced locally, and repaid over time by regular payments of principal and interest.